by Justin Slack, MAI, SRA, AI-GRS, AI-RRS
Summer is coming to an end, school zone traffic cameras have been turned back on, and tuition bills have been sent out. While the Pacific Northwest has been spared by the catastrophic storms hitting the Southeast US, the smoke and devastating fires burn throughout the region. We haven’t been immune from disaster . If inclined, our members and appraisers have opportunities to contribute to the efforts in several ways including donating to the Appraisal Institute Relief Foundation (AIRF) or by using their valuation skills in helping the agencies like the US Small Business Association in their quest to provide assistance.
The Fall Season is typically a busy one for the chapter as we gear up for our September Chapter Dinner Meeting on September 20th and the 11th Annual Fall Conference on October 6th. Many thanks to Tom Hollowed, MAI, AI-GRS for securing our Chapter Dinner Speaker, Nathan Torgelson, Director, Seattle Department of Construction & Inspections. Like our other dinner meetings this year, we’ll be meeting at the WAC (parking included!); please be sure to register and plan on attending the Affiliate/ Candidate meeting as well.
Additionally, if you haven’t already done so, please be sure to register for this year’s Fall Conference; our FC Committee has worked tirelessly for the last 11 months to make this another great event for the Real Estate Industry, not just our practitioners!
The summer was a busy time for the organization as a whole, too. Several significant items occurred at the Q3 National Board Meeting in late August:The National Board of Directors (Board)) accepted the resignation of CEO Fred Grubbe; a project team is being organized to search for a new CEO of the organization, but in the meantime, the Board appointed AI National President Jim Amorin as the Acting/ Interim CEO;
The Board approved a motion to elect Jeff Sherman as the 2018 Appraisal Institute Vice President;
After being exposed over the summer, the Board approved a motion on a Statement of Policy on Evaluations (giving guidance to the Government Relations team to assist chapters and states that are requesting assistance in drafting legislation to change laws to allow appraisers to complete evaluations while signing as a licensed/ certified appraiser);
The 2019 AI National Conference will be held in Denver, CO (the 2018 National Conference was previously announced to be held in Nashville, TN); and
There was general discussion on the Governance Structure Project Team (GSPT) recommendations. The Board will continue to receive comments and consider.
On the Regional front, there will be a Joint Region meeting with Region I, II (Mountain States), and Region VII (Southern CA, HI, AZ, & NV) in Lake Tahoe in late October. This will be a great opportunity for connecting and networking with colleagues and clients, as well as get updated on Region issues. There’ve been emails sent with information and details, so if you have an interest, please consider attending, and if there are lingering questions or concerns, please be sure to reach out to your Region Representatives to share your opinions.
Happy valuing and I look forward to seeing you in September at the Chapter Meetings.
Letter from Amorin Announces Grubbe’s Resignation
Appraiser’s Coalition of Washington – 2017 Update
by Penny Crowe, SRA
Customary and Reasonable Fee– A bill has been prepared to give the Department of Licensing the authority to sanction and impose fines and other remedies on AMC’s for payment of appraisal fees reflected as Customary and Reasonable in Washington State. This bill would also provide support for fees unpaid by stipulating a period of time that is reasonable.
Inactive Licenses – Again, a bill is prepared to allow real estate appraisers the ability to place their certification/license on inactive status with the State of Washington. ACOW is recommending a period of six years maximum (three – two year renewals) with fees for inactive status at 50 percent of certification/license fees and then allowing for reactivation with 28 hours of continuing education and a 7 hour USPAP class. This is a license status that is allowed for real estate agents and would be beneficial to appraisers as well.s
Statute of Limitations – This bill would limit the ability to sue an appraiser for damages arising out of an appraiser’s real estate activity within one year from the date of discovery of the act or omission and not more than three years after the date of the appraisal.
ACOW will approach the Department of Licensing in September to attempt to effect rules changes for these issues but we are ready with the help of our lobbyist, T.K. Bentler to approach possible sponsors with these bills for the 2018 Legislative Session if rules changes are not possible.
An ACOW representative will attend the September 27 Department of Licensing rules hearing to testify on the removal of the current rule that requires appraiser trainees be accompanied by their supervisor for a minimum of twenty five inspections. Currently this state does not comply with the Appraiser Qualifications Board Criteria that indicates a Supervisory Appraiser should personally inspect each property appraised until the Trainee Appraiser reflects competency (in accordance with the Competency Rule of USPAP). We would recommend any Supervisory or Trainee Appraiser that has comments attend this rules hearing and speak to the Department of Licensing representative. Check the DOL website HERE for the time and location in Olympia.
Contact your representatives at the Appraiser’s Coalition of Washington if you have any comments on these or other issues impacting your appraisal practice or business. We can be reached at firstname.lastname@example.org.
We want to thank members of the Seattle Chapter of the Appraisal Institute for their support to the Appraiser’s Coalition of Washington through your yearly dues. Individual memberships and attendance at our yearly Summer Conference also help to fund the efforts to support all appraisers in the State of Washington. Visit the ACOW website at acow-wa.org.
Look for the coming 2018 ACOW Legislative Day in January 2018 on the ACOW website! Meet your legislature and support appraisal issues!
SDOT Proposals Request
Seattle Dept. of Transportation is advertising 2 requests for proposals for Right of Way appraisals meeting FHWA and FTA requirements (as well as USPAP).
See our RFP published for 3 weeks in the Seattle Daily Journal of Commerce, E-bidExchange, and The Consultant Connection
(Ebid and Consultant Connection are City of Seattle sites: https://www.ebidexchange.com/ and http://consultants.seattle.gov/ ).
There will be a Pre-submittal Conference on 9/27/17, but attendance is not mandatory.
Christa is currently a Vice President working in the Pacific Northwest Region of the Valuation and Advisory Services group of CBRE. She has been an active commercial appraiser since 2005, with relocating to Seattle in 2014 from Florida. Christa’s expertise is in multifamily properties with conducting appraisals, feasibility analysis, market studies and other consulting assignments throughout the Pacific Northwest. Her focus includes income restricted, mixed-use and HUD MAP multifamily developments, with also being HUD MAP certified. Christa’s background includes a BS degree from Florida State University with a triple-major in Real Estate, Finance and Accounting. In her spare time, she likes to garden and go hiking with her husband and two dogs.
Brant Sheaffer rejoined Property Sciences in 2016 as Vice President, Regional Manager of the Pacific Northwest Region. He originally began his appraisal career in his first stint with Property Sciences from 2002 until 2006. Having spent the past decade working in the Pacific Northwest, Mr. Sheaffer has completed assignments throughout various markets in Washington, Oregon and Idaho. Prior to joining Property Sciences, Mr. Sheaffer was a Senior Valuation Specialist with Colliers International where he led a multifamily team dealing with a high volume of appraisals for Fannie Mae and Freddie Mac originators, as well as regional/local banks and credit unions. Mr. Sheaffer also has extensive experience in valuation of hospitality and retail fuel properties. Prior to working for Colliers, Mr. Sheaffer worked for CBRE as a Senior Appraiser in their Portland and Seattle offices focusing on institutional properties with an emphasis on retail properties. Mr. Sheaffer graduated from California State University, Hayward with a Bachelor of Science Degree in Business Administration.
2017 Fall Real Estate Conference Sponsors
Check Out Our Employment Page
Seeking a new position? Don’t forget to check out our Employment page on the Seattle Chapter website.
Have a position to post?
Email email@example.com with the title, description, qualifications/requirements, and application instructions and we’ll post it to the page. Posts remain on the site for approximately 2 months unless otherwise requested.
Is Your Contact Information Up To Date?
When you update your contact information, be sure to log into your AI member account to make those updates. The Seattle Chapter pulls its contact information lists directly from the national database roughly once per quarter. Be sure your info is up to date so you don’t miss any important information from the Chapter!
Want to Contribute to the Newsreal?
If you’d like to contribute to future issues of the Newsreal, please contact Newsletter Chair Diane Hayes, SRA at firstname.lastname@example.org.